Oof. GM Reports Additional $2B Loss for '05

The hoons of Pedro are hootin' and hollerin' for some reason tonight, but we're pretty sure it's not because of the latest dish outta the RenCen: GM has revised its earnings statement for 2005 to include an additional two billion samoleons to the tally, bringing the total to a cool $10.6 bil. The discrepancy is apparently due partly to a miscalculation involving cash flow at GMAC subsidiary ResCap, as well as plant-closure costs and Delphi issues. They've delayed filing their annual report with the SEC, but promised that they'd have their late assignment turned in within two weeks.

GM revises 2005 loss to $10.6 bln after charges [Reuters]

Related:
Supplies! The Truth About the GM Death Watch [Internal]